The glue-laminated timber market share is expected to increase by USD 1.12 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.24%.
This glue-laminated timber market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers glue-laminated timber market segmentation by application (residential, commercial, and others) and geography (North America, Europe, APAC, South America, and MEA). The glue-laminated timber market report also offers information on several market vendors, including Binderholz GmbH, Boise Cascade Co., Calvert Co. Inc., Canfor Corp., HASSLACHER Holding GmbH, Mayr-Melnhof Holz Holding AG, Pfeifer Holding GmbH, Setra Group AB, Stora Enso Oyj, and Structurlam Mass Timber Corp. among others.
What will the Glue-laminated Timber Market Size be During the Forecast Period?
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Glue-laminated Timber Market: Key Drivers, Trends, and Challenges
The increasing demand for durable wood flooring is notably driving the glue-laminated timber market growth, although factors such as the availability of numerous substitute products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the glue-laminated timber market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Glue-laminated Timber Market Driver
Increasing demand for durable wood flooring is a major driver fueling the glue-laminated timber market growth. With developments in aesthetics, quality, and selections of wood and finishes, glue-laminated timber has become an attractive option for durable flooring. Plastic composites are also being used for decking. Although plastic composites are cheaper, their production process involves the emission of hazardous compounds. Further, these composites are not fire and heat-resistant, limiting their wide acceptance. On the contrary, glue-laminated timber is made using softwood and hardwood products procured from wood processing industries. Therefore, these timber products are eco-friendly and sustainable alternatives to conventional flooring in most applications. In addition to its natural wood-like and enhanced properties, glue-laminated timber has a longer life cycle and greater load-carrying capacity than other wood products (solid wood) of the same measurement. In the manufacturing of glue-laminated timber, special resins are used that comply with stringent regulatory stands set by various government organizations for safety and efficacy. This is attributable to the fact that glue-laminated timber products are more uniform and predictable in terms of mechanical properties as defects in the wood are minimized during the manufacturing process.
Key Glue-laminated Timber Market Trend
The increasing adoption of wooden furniture is a major trend influencing the glue-laminated timber market growth. The increasing adoption of wood-based furniture is likely to support the global glue laminated timber market's growth in the future. Home and office furnishings such as wooden furniture are characterized by enhanced durability and long replacement cycles. The home furniture is often considered a one-time investment, especially by the middle-income and low-income segments of the population. Glulam is commonly used in the manufacturing of furniture such as benches and tables, among others. The emergence of bamboo-reinforced glue-laminated timber-based furniture is likely to support the market's growth going forward. Wooden furniture is widely used in home and office spaces for decoration and aesthetics. Branded and premium wooden furniture is made of superior quality raw materials. Investments in such furniture are considered permanent, with consumers required to incur nominal maintenance costs. Premium products available in the market are characterized by enhanced durability and convenience of use. Demand for branded wooden furniture and home furnishing equipment has increased due to rising consumer awareness and brand consciousness. This will likely create a positive influence on the growing use of wooden furniture during the forecast period.
Key Glue-laminated Timber Market Challenge
The availability of numerous substitute products is a major hindrance to the glue-laminated timber market growth. Consumers and end-users are shifting from glue-laminated timber products to more cost-effective, competitive products. Plywood, laminated veneer lumber, oriented strand board, cross-laminated timber, iron, steel, aluminum, etc. are some of the key substitutes widely preferred by end-users. The high relative performance of these alternatives and their easy availability in the market significantly affect the growth of the global glue-laminated timber market. Steel and iron products are largely used in construction beam and framework applications. Greater load-carrying capacity, reliability, enhanced safety, longer service life, easy assembling and disassembling, and lower maintenance requirements are some of the key advantages of metal (iron and steel) beams and framework products over glue-laminated timber. Easy availability of such substitute products and their cost-effectiveness increase competition among furniture products. Therefore, the easy availability and increasing adoption of alternative products are expected to stump the glue-laminated timber market's growth over the forecast period.
This glue-laminated timber market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global glue laminated timber market as a part of the global forest products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the glue-laminated timber market during the forecast period.
Who are the Major Glue-laminated Timber Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Binderholz GmbH
- Boise Cascade Co.
- Calvert Co. Inc.
- Canfor Corp.
- HASSLACHER Holding GmbH
- Mayr-Melnhof Holz Holding AG
- Pfeifer Holding GmbH
- Setra Group AB
- Stora Enso Oyj
- Structurlam Mass Timber Corp.
This statistical study of the glue-laminated timber market encompasses successful business strategies deployed by the key vendors. The glue-laminated timber market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The glue-laminated timber market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Glue-laminated Timber Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the glue-laminated timber market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global forest products market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for the Glue-laminated Timber Market?
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37% of the market’s growth will originate from Europe during the forecast period. Germany and The UK are the key markets for the glue-laminated timber market in Europe. Market growth in this region will be faster than the growth of the market in regions.
Growing consumption and high adoption of sustainable building materials such as wood will facilitate the glue-laminated timber market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 has led to the closure of manufacturing units which reduced the sales of glue laminated timber in the region. Countries such as Italy, Spain, Germany, France, Switzerland, the UK, the Netherlands, Austria, Belgium, Norway, Portugal, and Sweden are severely affected by the pandemic. The number of COVID-19 cases is still increasing in the region. Manufacturing units and production activities in the region are either closed or halted to curb the spread of the disease. This led to a surge in the prices of timber in the region, which, in turn, is expected to hinder the market's growth during the forecast period.??
What are the Revenue-generating Application Segments in the Glue-laminated Timber Market?
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The glue-laminated timber market share growth by the residential segment will be significant during the forecast period. The flourishing residential construction sector is boosting the demand for glue laminated timber products. This sector mainly comprises new residential construction, repair, and remodeling. Some common applications of glue laminated timber in the residential construction sector are in heavy construction, frames for doors, gates, and windows; roofing, flooring, decking, stair treads and joinery, interior work, and wood fencing.
This report provides an accurate prediction of the contribution of all the segments to the growth of the glue-laminated timber market size and actionable market insights on post COVID-19 impact on each segment.
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Glue-laminated Timber Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.24% |
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Market growth 2021-2025 |
$ 1.12 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.25 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
Europe at 37% |
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Key consumer countries |
US, Germany, China, UK, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Binderholz GmbH, Boise Cascade Co., Calvert Co. Inc., Canfor Corp., HASSLACHER Holding GmbH, Mayr-Melnhof Holz Holding AG, Pfeifer Holding GmbH, Setra Group AB, Stora Enso Oyj, and Structurlam Mass Timber Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Glue-laminated Timber Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive glue-laminated timber market growth during the next five years
- Precise estimation of the glue-laminated timber market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the glue-laminated timber industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of glue-laminated timber market vendors
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